"Now Honda is ditching that 2040 target entirely and doubling down on gas-electric hybrids, planning to launch 15 next-generation models by 2030. CEO Toshihiro Mibe says the goal is to restore Honda to record profits by the decade's end."
Honda reported a $2.7 billion annual loss for the fiscal year ending March 31. A prior commitment aimed to make the entire lineup electric or hydrogen-powered by 2040, supported by partnerships to develop battery-powered cars. Demand for plug-in vehicles weakened after early adopters, as mainstream buyers faced high prices and limited charging infrastructure. Federal EV subsidies were reduced under the Trump administration. Honda is now dropping the 2040 target and focusing on gas-electric hybrids. The company plans to launch 15 next-generation models by 2030, with leadership targeting a return to record profits by the end of the decade.
#automotive-industry #electric-vehicles #hybrid-technology #corporate-strategy #financial-performance
Read at Entrepreneur
Unable to calculate read time
Collection
[
|
...
]